Barings Supports New Mountain Capital Investment in DRB Systems
CHARLOTTE, N.C., Oct. 17, 2017 (GLOBE NEWSWIRE) -- Barings, one of the world's leading asset management firms, announced today that it served as a Joint Lead Arranger on a Senior Secured Credit Facility to support New Mountain Capital's acquisition of DRB Systems LLC.
Founded in 1984 and based in Akron, Ohio, DRB Systems is the leading provider of turnkey technology solutions used to enhance the operational efficiency of car wash sites across the U.S. DRB's integrated technology offering includes hardware and software used in point-of-sale and tunnel control systems as well as ancillary modules to support marketing, human resources, and business analytics.
"New Mountain Capital is pleased to have completed its investment in DRB Systems," said Jack Qian, Director of New Mountain Capital. Laura Holson, Head of Capital Markets at New Mountain added, "We deeply value Barings' support as a financing partner as we look ahead towards DRB's exciting future."
"Barings appreciates the opportunity to support New Mountain Capital on its investment in DRB Systems," said Jessica Lee, a managing director in Barings' North American Private Finance Group. "DRB Systems is an undisputed market leader with a compelling value proposition, and we are looking forward to supporting its continued growth."
With over 600 investment professionals, including more than 70 dedicated solely to private finance, Barings leverages its global presence and local expertise to source private credit investments in developed markets worldwide. This global sourcing network, coupled with a diverse portfolio of platform companies, provides Barings with ongoing opportunities to finance middle market transactions including new platform investments, add-on acquisitions and recapitalizations across the U.S., Europe and Asia.
About New Mountain Capital
New Mountain Capital is a New York based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity and credit capital with aggregate assets under management totaling more than $20.0 billion*. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For additional information, please visit www.newmountaincapital.com.
Barings is a $288 billion** global asset management firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. A member of the MassMutual Financial Group, Barings maintains a strong global presence with over 600 investment professionals and offices in 16 countries. Learn more at www.barings.com.
* Includes amounts committed, not all of which have been drawn down and invested to date.
**As of June 30, 2017
Brian Whelan, Barings, 704.805.7244, firstname.lastname@example.org
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Barings via Globenewswire
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